IMA CMA Part 1: Financial Planning - Performance and Analytics : CMA-Financial-Planning-Performance-and-Analytics

  • Exam Code: CMA-Financial-Planning-Performance-and-Analytics
  • Exam Name: CMA Part 1: Financial Planning - Performance and Analytics Exam
  • Updated: Jun 07, 2026
  • Q & A: 112 Questions and Answers

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IMA CMA Part 1: Financial Planning - Performance and Analytics Sample Questions:

1. Comprehensive income is best defined as

A) the change In net assets for the period excluding owner transactions
B) total revenues minus total expenses
C) net income excluding realized gams and losses
D) the change in net assets for the period including contributions from owners and distributions to owners


2. Inherent risk factors involved in the revenue recognition process include each of the following except

A) legal factors that affect product warranties, returns and liabilities
B) computerization of the process by which sates receipts and credit memoranda are recorded
C) Industry factors that affect pricing, terms and discounts
D) breakdown of segregation of duties controls


3. If a company s disaster recovery planning includes the use of a cold site the company will

A) restart its IT operations using the real-time mirroring performed at the cold site
B) restore its IT function after equipment is made ready at a site with prewired IT access
C) resume Its business processes immediately at a remote site with no preinstalled equipment
D) relaunch its major business processes from a site with preinstalled equipment


4. Which one of the following statements best describes data governance?

A) The convergence of accounting data, finance data and information technology
B) Performance of data-based audits on a continuous basis
C) The union of data quality, data management, data policies, and risk management
D) A process of securing all company data points, both structured and unstructured


5. Describe one example of predictive data analytics that the proposed human resources management software can perform.
Essay
Zhiliang Foods Inc. (ZFI) is a privately-held food distributor ZFI has two production departments' the Meat Department is labor-intensive. while the Bakery Department is highly automated ZFI applies a single overhead allocation rate, using the number of pounds produced as an allocation base for the whole company The expected annual overhead costs of ZFI for 100 million pounds produced are as follows (¥ in millions).

ZFI has one payroll administrator in its Human Resources department, but most of the payroll related work is outsourced to a payroll service provider ZFI's payroll administrator is responsible for tracking the list of current employees and maintaining the most up-to-date employee information, including bank accounts for payroll direct deposits.
Each pay period, the payroll administrator emails the information for all current employees' hours worked to the payroll service provider. The service provider then processes the payroll, makes direct deposits to employees' bank accounts, mails payroll stubs to employees' homes and emails payroll reports to ZFI's payroll administrator. The payroll administrator then makes payroll journal entries to ZFI's accounting system based on the payroll reports received ZFI's accountant prepares a bank reconciliation each month to ensure ZFI s payroll payments on ZFI's bank statement match the amounts shown on the payroll reports from the service provider.
ZFl's management is evaluating the purchase of data encryption software and human resources management software next year. The human resource management software is expected to provide various human resources and payroll-related functions.
In addition, the human resource software can generate a report to indicate the monthly employee turnover rate and the average service length of employees who have resigned. The system can also generate a report to indicate the main reasons for resignations and identify current employees who are at risk of resigning. The system will recommend actions to help retain these employees, such as more training opportunities or a pay raise.


Solutions:

Question # 1
Answer: A
Question # 2
Answer: D
Question # 3
Answer: B
Question # 4
Answer: C
Question # 5
Answer: Only visible for members

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